The global sleeping aids market is expected to increase from USD 6.8 billion in 2017 to USD 10.9 billion in 2024, at a CAGR of 6.8% from 2018 to 2024. The growth in the sleeping aids market is attributed to the rising incidences of sleep disorders across the globe. Moreover, growing awareness regarding the therapies for sleep disorders is also driving the growth in the sleeping aids market. The years used for the assessment are as follows;

Historical year: 2015,2016

Base year : 2017

Forecast period : 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys, and other secondary sources

Interacting with key opinion leaders of the market and developing data points based on interaction with them

Study of past trends in the market and their year on year Impact on the market size and share.

Analyzing the collected data points

Bridging the data points to calculate the total sleeping aids market and its various segments

Anticipating potential risks

Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global sleeping aids market

Finalizing the overall size and share of the global sleeping aids market

OBJECTIVES:

To classify global sleeping aids market into segments on the basis of product, sleep disorder, and analyze their growth prospects individually

The global sleeping aids market is expected to increase from USD 6.8 billion in 2017 to USD 10.9 billion in 2024, at a CAGR of 6.8% from 2018 to 2024. The growth in the sleeping aids market is attributed to the rising incidences of sleep disorders across the globe. Moreover, growing awareness regarding the therapies for sleep disorders is also driving the growth in the sleeping aids market. However, concerns regarding the side effects of sleep medications may hamper the market growth to some extent.

Based on the product, sleep apnea devices is projected to be the fastest growing segment during the forecast period owing to technological advancements. On the basis of sleep disorder, the insomnia segment held the largest share of the global sleeping aids market in 2017 and is expected to retain its dominance during the forecast period.

North America held the major share of the sleeping aids market in 2017 and is projected to retain its dominance during 2018-2024. The growth in the region is mainly driven by rising incidences of sleep disorders. The Asia-pacific region is projected to grow at the highest CAGR during the forecast period due to growing old age population in the region.